By Lindsay Simon | The Conversation More than 20,000 companies file for bankruptcy every year. Although companies follow many different paths to bankruptcy, each one encounters a process that is carefully designed to balance the rights of debtors and creditors. As I’ve learned from studying and practicing bankruptcy law, the system is
The US has approximately 2.5 million people in prison at any given time. While most of them have no significant assets that they would need to manage while away, a few do get snatched away in the middle of a full financial life – mortgages, businesses, outstanding credit card dues
Why can’t people get rid of student loans through bankruptcy now? Although not impossible, discharging student loans in bankruptcy is difficult. Due to a 1976 law, student loans are not treated during bankruptcy proceedings like other forms of debt, such as credit card debt or auto loans. This policy stems from
CHICAGO,ILLINOIS/AUGUST 16, 2019: Sign indicates Bed Bath & Beyond store closing at 530 N State Street at River North neighborhood. (Shutterstock) By Lillian Rizzo, CNBC Bed Bath & Beyond is bulking up its team of legal advisors as the troubled retailer preps a potential bankruptcy filing that would take place
By MacKenzie Sigalos, CNBC Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for Chapter 11 bankruptcy protection in Texas early Wednesday morning, according to a person familiar with the company’s finances. The move follows a year of plunging cryptocurrency prices and rising
LOS ANGELES DECEMBER 2021-Entrance, Crypto.com Arena in December 2021 in Los Angeles. The name of Staples Center sports and entertainment arena, home of the Lakers, changed to Crypto.com Arena in Dec. (Shutterstock) By Rohan Goswami and MacKenzie Sigalos, CNBC Kris Marszalek wants everyone to know that his company, Crypto.com, is
By Ryan Browne, CNBC Customers of beleaguered cryptocurrency lender Voyager Digital may find some solace in the news that FTX, the bitcoin exchange founded by billionaire Sam Bankman-Fried, is set to take on the company’s assets after winning a bankruptcy auction. After several rounds of bidding, FTX’s U.S. subsidiary was
By Andrew Osterland, CNBC Personal bankruptcy filings have fallen dramatically since the beginning of the coronavirus pandemic, but with interest rates rising and government relief waning, filing numbers will likely pick up through this year, say experts. “I’ve had more calls in the last few weeks than the previous six
New York – September 2, 2017: Eurosport Analyst Grand Slam Champion Boris Becker Comments Tennis Match During US Open 2017 at Billie Jean King National Tennis Center New York. (Shutterstock) By Olympics NBC Sports LONDON — Tennis great Boris Becker was sentenced to 2 1/2 years in prison on Friday for illicitly
By FTC Having trouble paying your bills? Getting dunning notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your car? You’re not alone. Many people face a financial crisis at some point in their lives. Whether the crisis is
